U.S.-based therapeutic device company Orchestra BioMed, Inc. has secured a $41 million in private equity funding round.
This financing will help support Orchestra BioMed in its continued late-stage clinical lead product candidates development, which includes the virtue sirolimus-eluting balloon for the treatment of artery disease and the backbeat cardiac neuromodulation therapy for the treatment of hypertension.
With this financing round, the company will be able to support its final stages of development of its programs while also allowing it to explore many new options to expand its product pipeline.
This round also provides strong investor incentives to provide an additional $23 million in future follow-on capital, further complementing Orchestra BioMed’s business strategy and growth plans.